AFC Gamma (NASDAQ:AFCG) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen lowered shares of AFC Gamma (NASDAQ:AFCG) from a strong-buy rating to a buy rating in a research report released on Saturday morning.

AFCG has been the subject of several other research reports. Weiss Ratings restated a “sell (d)” rating on shares of AFC Gamma in a research report on Friday, July 17th. Zacks Research upgraded shares of AFC Gamma from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $4.50.

AFC Gamma Trading Up 0.4%

Shares of AFC Gamma stock opened at $2.69 on Friday. The firm has a market cap of $63.30 million, a PE ratio of -4.20 and a beta of 0.90. AFC Gamma has a 1 year low of $2.06 and a 1 year high of $5.10. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a fifty day moving average price of $3.15 and a 200-day moving average price of $2.82.

AFC Gamma Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.05 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.20 annualized dividend and a dividend yield of 7.4%. AFC Gamma’s payout ratio is presently -31.25%.

Insider Activity at AFC Gamma

In other news, Director Leonard M. Tannenbaum purchased 90,600 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were purchased at an average price of $2.84 per share, with a total value of $257,304.00. Following the transaction, the director directly owned 6,516,775 shares of the company’s stock, valued at approximately $18,507,641. This represents a 1.41% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 30.70% of the stock is owned by corporate insiders.

AFC Gamma Company Profile

AFC Gamma, Inc is a specialty finance real estate investment trust that focuses on providing structured financing solutions to companies operating and developing digital infrastructure and life science real estate assets. As a REIT, AFC Gamma seeks to generate attractive risk-adjusted returns through a diversified portfolio of loans, preferred equity and other financing structures that are secured by tangible property collateral or contractual revenue streams.

The company’s primary business activities include originating, acquiring and managing secured loans and equity investments that support wireless and broadband network deployment, data center expansion, and life sciences facility development.